Brain Health Supplements Market To Be Driven By The Rising Awareness Of The Product In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Brain Health Supplements Market Size, Share, Price, Trends, Growth, Outlook, Report and Forecast 2023-2028’, gives an in-depth analysis of the global brain health supplements market, assessing the market based on its segments like products, supplement forms, age groups, distribution channels, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 5.4 billion
• Forecast CAGR (2023-2028): 8%
• Forecast Market Size (2028): USD 8.7 billion
The Asia Pacific region is expected to be a major market for brain health supplements. This could be attributed to the rising regional demand for the product, particularly among the two demographics: the elderly and the young. India and China are the major contributors to the region’s burgeoning market growth, and they are expected to remain major markets in the regional industry over the forecast period.
Meanwhile, North America, along with Europe, is also expected to be a significant regional market for brain health supplements. The increase in public awareness about healthy living, as well as the availability of brain fitness centres, brain fitness programmes, and brain fitness classes, are driving the market growth in North America.
Industry Definition and Major Segments
Brain health supplements include vitamins and nutritional benefits that help in reducing stress, increasing concentration level, protect from anxiety, depression and dementia, and uplift mood or memory. Supplements for brain health come in a variety of forms, including tablets, capsules, powders, and more.
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By product, the market is segmented into:
• Vitamins and Minerals
• Herbal Extract
• Natural Molecules
On the basis of supplement form, the industry is divided into:
Based on age group, the industry is segmented into:
By distribution channel, the market is divided into:
• Supermarket and Hypermarket
• Drug Store
On the basis of application, the industry is categorised into:
• Depression and Mood
• Anti-Ageing and Longevity
• Memory Enhancement
• Sleep and Recovery
• Attention and Focus
The regional markets for the product include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The busy lifestyles of people, as well as mental stress caused by various factors such as financial or family issues, are driving the market growth of brain health supplements. The product’s convenient availability at the local pharmacy is assisting the market’s growth. As a result, the proliferation of drugstores is boosting the market for brain health supplements.
Furthermore, over the forecast period, the online sales channel is expected to expand at an exponential rate, accelerating market growth. The growing use of the internet and a growing concern for convenience among consumers around the world are further fuelling the online sales of brain health supplements.
Key Market Players
The major players in the market are Accelerated Intelligence Inc., Purelife Bioscience Co., Ltd., AlternaScript LLC, Liquid Health, Inc., and Quincy Bioscience, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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